I'm new... Please help...

[JM637 Junior Member Find all posts View Profile Close JM637]

My husband and I bought into Monarch Grand Vacations a year and a half ago, initially with 216 points. After a month or two, pressured into upgrading, now totaling 533... We've already seen an increase in our HOA dues which costs us more than a grand a year. We haven't even used our ownership yet because the resorts are always booked. When we vacation we book through those travel websites. And at the present time, we are going into almost 60 days late with our payment. We need every advice you guys can give us. Is there really no way to get out of this? Please help...

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

Is there really no way to get out of this? Please help...

Not true. It just you will need to prepare to get hurt in your credit and fight through collecting agent. So you need to first look at your own financial situation overall before decide what you want to do.

Jya-Ning

[Spence Super Moderator Find all posts View Profile Close Spence]

You got suckered the first time and then a second time. You're way too late for any legal outs. The fact that they were able to convince you to buy again/upgrade is not in your favor. You need to learn how to use your timeshare, advance planning, a year out, is a must. Pay your bills or see them ruin your credit.

[allenh91801 Member Find all posts View Profile Close allenh91801]

It's always sad to see this situation. If you can plan ahead, you can use the timeshares to go where you want. It's very unfortunate to see you in this situation. 533 points is quite a bit. I'm not sure what you owe, but if you were to try to sell it, you may be able to get a few thousand for it.

[JM637 Junior Member Find all posts View Profile Close JM637]

It's always sad to see this situation. If you can plan ahead, you can use the timeshares to go where you want. It's very unfortunate to see you in this situation. 533 points is quite a bit. I'm not sure what you owe, but if you were to try to sell it, you may be able to get a few thousand for it.

Yeah 533 is quite a bit... I think we get 3 weeks for it with MGV system... and it's $30K... Don't even know if it's even worth that much now...

[JM637 Junior Member Find all posts View Profile Close JM637]

So you need to first look at your own financial situation overall before decide what you want to do.

Jya-Ning

Well it's kinda too late now... It's an eye opener tho, I might say. We thought we were getting a great deal because of all the hyped presentations and oh so wonderful giveaways... NOT! anyways, thanks for the advise... We're more careful now at what we get into ever since the whole timeshare thing...

[4ARedOctober Super Moderator Find all posts View Profile Close 4ARedOctober]

Sorry to be the bearer of bad news but your 533 MGV points are worth less than $3,000 in my opinion. MGV has hyped so many people that resales are available at pennies on the dollar. Just go look on ebay.

I suggest you learn how to use it to your benefit and enjoy some vacations over the next decade plus to get your money's worth out of them.

Please don't throw anymore good money after bad. Resale companies will hype you that they have a 'buyer' and can get you what you paid and more for an 'advertising' fee and then will take your money and will do nothing for you.

Stick around and learn how the system works.....and make it worth your while. Do not let your points expire unused....you can at least get deposits in II or TPI which will allow you to hopefully exchange somewhere you can go in the future and extend the life of your points a few years. But it is important what weeks you deposit so do your research.

Good luck. Stick around and TS4M's will help.

Yeah 533 is quite a bit... I think we get 3 weeks for it with MGV system... and it's $30K... Don't even know if it's even worth that much now...